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A*S*K Fundamental Business Concepts Practice Test

Total questions: 50

Worksheet time: 50mins

Name
Class
Date
1.

Written communications in business should

a)

use long, informative sentences.

b)

be totally impersonal.

c)

use technical language.

d)

be clear and easy to understand.

2.

When writing a business report, Thomas might check his writing and style manual to determine the

a)

formal definitions of important terms.

b)

best way to set up tables using computer software.

c)

synonyms for common words.

d)

appropriate way to cite his resources.

3.

So the company can make wise business decisions, it is important for the company to effectively manage its

a)

ratings.

b)

markets.

c)

information.

d)

demand.

4.

To build positive customer relations, a business must be

a)

proactive.

b)

small.

c)

profitable.

d)

aggressive.

5.

A customer called to complain that a promised shipment had not arrived and to find out what happened. You say you will check and call back. How can you show a customer service mindset?

a)

By calling back as soon as possible with an answer

b)

By helping organize the warehouse

c)

By following up to see if the customer is satisfied with your company's service

d)

By talking about the problem with coworkers

6.

What kind of customer would ask, "If I buy this product, how can I be sure it will do what you say it will?"

a)

Eager

b)

Domineering/Superior

c)

Slow/Methodical

d)

Suspicious

7.

What should you do to determine whether a customer's complaint is justified?

a)

Investigate the problem

b)

Restate the complaint

c)

Ask a supervisor

d)

Take immediate action

8.

A farmer recently purchased 1,400 acres of farmland and six new pieces of farm machinery. What categories of resources did the farmer acquire?

a)

Labor and human

b)

Natural and capital

c)

Capital and labor

d)

Natural and land

9.

Promotion, layaway, and credit help create __________ utility.

a)

form

b)

time

c)

possession

d)

sales

10.

What type of market likely exists when a local car dealer has many vehicles for sale at low prices but demand is low?

a)

Buyer's

b)

Elastic

c)

Inelastic

d)

Seller's

11.

In order to have exclusive rights to their literary and artistic works, authors and artists can apply for a

a)

tariff.

b)

patent.

c)

copyright.

d)

trademark.

12.

Which of the following is an example of the limits to economic freedom:

a)

Francesca wants to start her own company, so she becomes an entrepreneur.

b)

Shawn competes with several other applicants for the job position he wants.

c)

A company wants to purchase an office building, but another company purchases it.

d)

Patrick decides to sell his car to his younger sibling for $10,000.

13.

Many businesses reinvest the profits that they make to

a)

increase employees' bonuses.

b)

expand their operations.

c)

improve their credit rating.

d)

increase their emergency funds.

14.

Which of the following is an example of how all small businesses directly strengthen a nation's economy:

a)

Small businesses are likely to grow into large companies.

b)

Small businesses develop strong local ties and connections.

c)

Small businesses are the building blocks of large corporations.

d)

Small businesses control their expenses and operating costs.

15.

One characteristic of trade-industry businesses is that they sell

a)

a narrow assortment of products.

b)

only full product lines.

c)

only limited product lines.

d)

products to others.

16.

Emotionally intelligent leaders display

a)

technical expertise.

b)

confidence.

c)

authority.

d)

hopefulness.

17.

An employee who misuses company time is actually

a)

stealing.

b)

shoplifting.

c)

pilfering.

d)

robbing.

18.

A willingness to learn, to change, and to take occasional risks all refer to a leader with

a)

credibility.

b)

a passion for work and people.

c)

flexibility.

d)

business knowledge.

19.

Abby feels the company's vacation policies are fair, while Jaya thinks they are too strict. Abby and Jaya's disagreement is an example of a(n) __________ conflict.

a)

functional

b)

critical

c)

essential

d)

emotional

20.

What type of statement can make a person feel defensive and angry during a conflict?

a)

It

b)

You

c)

Me

d)

I

21.

The practice of developing mental or physical images of your personal goals is referred to as the __________technique.

a)

affirmation

b)

ineffective

c)

imagination

d)

visualization

22.

Aja and Todd work in a local stationery store. When business is slow, Aja tends to text on her phone and stand around, while Todd tends to straighten the shelves and restock items that are needed. Which of the following traits is Todd demonstrating:

a)

Empathy

b)

Initiative

c)

Receptivity

d)

Loyalty

23.

Which of the following is a factor that might prevent businesspeople from developing cultural sensitivity:

a)

Demographics

b)

Principles

c)

Stereotypes

d)

Ethics

24.

When all members of a work team take a "we're all in this together" attitude, they are

a)

focusing on one person's performance.

b)

willing to share accountability.

c)

being creative and innovative.

d)

developing personal agendas.

25.

When DeShawn’s teacher compliments his work on the group project, DeShawn gives credit to the other group members who helped. DeShawn is demonstrating

a)

transparency

b)

viability

c)

rule of law

d)

trust

26.

Siobhan always treats others the way that she'd like to be treated. She is building trust by

a)

taking responsibility for her mistakes

b)

being fair

c)

communicating often and openly

d)

keeping her promises

27.

Which of the following is a source of income a person should consider when developing a personal budget:

a)

Insurance

b)

Clothing

c)

Utilities

d)

Salary

28.

Business accounting information often is summarized in which of the following types of financial statements:

a)

Trade report

b)

Fiscal policy

c)

Balance sheet

d)

Sales forecast

29.

The administration of assets refers to decisions about

a)

financing

b)

spending

c)

investments

d)

accounting

30.

You can tell that a project was successful if it

a)

is widely popular

b)

fixed a problem

c)

had a plan

d)

is sustainable

31.

Elliot owns Infinity Yachts, a yacht charter business in the Florida Keys. Elliot recently decided to increase her advertising, specifically the advertising on local radio and television. Which of the following marketing functions relates to Elliot's decision:

a)

Distribution

b)

Promotion

c)

Financing

d)

Selling

32.

“Helsinki is the capital of Finland” is an example of what type of information?

a)

Opinion

b)

Criticism

c)

Unproven

d)

Factual

33.

Information that has been printed for publication is often more reliable than many internet sources because

a)

the information is typically carefully checked for accuracy

b)

publishers do not support special interest groups

c)

published information is current and up to date

d)

authors have affiliations with professional organizations

34.

A business letter that has easy-to-understand information is said to have

a)

caution

b)

courtesy

c)

consensus

d)

clarity

35.

Last year, several of Readmore Bookstore's employees hurt their backs while lifting heavy boxes. As a result, the bookstore is reteaching its workers how to safely lift heavy boxes of books. What type of control is the business using to protect its employees' health and safety?

a)

Administrative control

b)

Engineering control

c)

Work-practice control

d)

Personal protective equipment

36.

The purpose of requiring customers to use a check-in, check-out system for taking clothing into fitting rooms is to

a)

assign a salesperson to each customer

b)

encourage customers to try on more clothes

c)

reduce the opportunity for theft

d)

save customers some shopping time

37.

Are the outputs of production limited to tangible items?

a)

No, outputs are limited to intangible items

b)

No, outputs can be tangible or intangible

c)

Yes, outputs are limited to tangible items

d)

Yes, outputs are tangible goods and services

38.

Which of the following is an important aspect of a business's operations function:

a)

Establishing efficient processes

b)

Providing access to information

c)

Hiring qualified employees

d)

Locating potential customers

39.

Shia manages the day-to-day activities needed to produce and distribute smartphones for a worldwide company. Shia's job title is most likely

a)

quality inspector

b)

marketing manager

c)

operations manager

d)

sales manager

40.

Which of the following is a corrective action you could take if your project has derailed:

a)

Risk tracking

b)

Stakeholder management

c)

Refocusing scope

d)

Project failure

41.

Which of the following groups of people would be most interested in using financial information for trend identification:

a)

Auditors

b)

Investors

c)

Employees

d)

Customers

42.

A business's employees should keep themselves well groomed and

a)

accessorize with plenty of jewelry

b)

wear their most expensive clothes

c)

abide by the dress policies of the employer

d)

demonstrate personal clothing tastes

43.

In order to use self-understanding to become a mature individual, you also need to

a)

identify your potential

b)

change your personality

c)

have the support of your friends

d)

develop your best characteristics

44.

To help Joseph determine which career to pursue, he should honestly examine his personality traits, abilities, and

a)

techniques

b)

interests

c)

opportunities

d)

expressions

45.

Jamal is a skilled communicator and is well-liked by all who meet him. However, he is struggling in his sales position because he is not familiar with the new software and computer programs used for communicating and making presentations. Which of the following will help Jamal improve his job performance:

a)

Adopting a better attitude

b)

Completing a communication course

c)

Updating his technology skills

d)

Demonstrating respect for others

46.

Under what circumstances would it be appropriate for a person to send a cover letter or letter of application to a business?

a)

When responding to a request for information

b)

When acting on a referred job lead

c)

When submitting educational transcripts

d)

When completing new-hire paperwork

47.

Shonda needs to choose between two colleges. After doing a lot of research about both schools, she has a gut feeling that one is the right choice, so she decides to go there. Shonda is using __________ to solve her problem.

a)

mind mapping

b)

the seven-step method

c)

intuition

d)

brainstorming

48.

Which of the following statements regarding protocols is true:

a)

Company protocols are generally not as important as company policies

b)

Protocols are broader in nature than other types of company guidelines

c)

A protocol is a type of guideline that prohibits a certain activity

d)

Employees don't need to know about their company's protocol

49.

Which of the following best describes the relationship between ethics and rules of conduct:

a)

Ethics are more specific than rules

b)

Rules are more important than ethics

c)

Ethics should be based on rules

d)

Rules should be based on ethics

50.

What are the primary functions of management?

a)

Controlling, leading, planning, and retailing

b)

Controlling, purchasing, leading, and selling

c)

Controlling, marketing, planning, and wholesaling

d)

Controlling, leading, organizing, and planning